1. Field of Invention
The present invention relates generally to the field of computerized packaging of vendor products. More specifically, the present invention is related to an e-commerce method and system for dynamically formulating searchable travel packages and allowing vendors to control inventory by offering products with restrictions.
2. Discussion of Prior Art
Vendors of travel-related products, like airlines, hotels and rental car companies have developed Revenue Management Systems (RMS) to optimize their revenue for their respective products (flights, hotel rooms per night, and rental cars per day). Revenue management can be separated into two distinct parts: pricing and inventory management. Pricing involves the establishment of fare classes and tariffs within those classes for each product. The objective of each vendor is to sell as much as possible without allowing the discount fare leisure passengers enjoy as a result of their flexibility, to dilute high yield and/or business passengers.
A package, also known as a tour package, is a collection of travel-oriented products, for example an airline ticket, a hotel room, a rental car, a ticket to a theme park, or a ticket to a rock concert. Travel packages are currently being “assembled” by travel agents and sold as a single product to consumers. Packages are attractive to travelers because they are easier to choose, and because in most cases packages have cheaper prices than buying the components separately.
Packages are appealing to vendors too. Since the price of each component in the package is not visible to the traveler, a package can be used to offer discounted prices on inventory that cannot be sold for the regular price, without publishing the fact that there is a discount, or how big it is. Packages can be restricted in ways that will “fence out” business travelers, for example by making packages non-refundable, or by requiring an overnight stay during the weekend. Since travel agents make most packages, the vendors have currently little control on “fencing out” business travelers or on other components of the package that they participate in.
Packages that are assembled by a travel agent are available only for travelers that go to the specific travel agent, or to its partners who get information about the package.
The following references describe known travel management systems.
Flake et al. (U.S. Pat. No. 5,832,451), assigned to Electronic Data Systems Corporation, provides for an Automated Travel Service Management Information System. This reference discloses an automated travel management information system that incorporates available customer reservation service information into one database. The vendor relations component includes such functions as developing relationships with various travel services vendors, such as airlines and hotels.
Lynch et al. (U.S. Pat. No. 5,839,114), assigned to Electronic Data Systems Corporation, provides for an Automated System for Selecting an Initial Computer Reservation System. This reference discloses an automated system that optimizes the hits-to-bookings ratio of CRSs utilized by a travel agency, by predicting which CRS will most likely be used to book travel arrangements in response to any given request by a customer. Also, a traveler portfolio and a business entity portfolio are included in the relational database system, respectively, for each individual and business travel customer of the agency.
DeLorme et al. (5,948,040), assigned to DeLorme Publishing Co., provides for a Travel Reservation Information and Planning System. This reference discloses a database capable of determining, reserving, and/or ticketing locations along a travel route between a user-selected travel origin and travel destination, including user-selected waypoints of interest along the way.
Lynch et al. (U.S. Pat. No. 6,018,715), assigned to Electronic Data Systems Corporation, provides for an Automated Travel Planning System. This reference discloses an automated system that generates a recommended travel plan or policy that balances between the preferences of an individual traveler, a business entity employing the traveler, and a travel agency. A travel agent using the system does not need to manually derive a travel plan or policy that is satisfactory to each of the travelers, the business entity, and the travel agency.
Walker et al. (U.S. Pat. No. 5,897,620), assigned to priceline.com Inc., provides for a Method and Apparatus for the Sale of Airline-Specified Flight Tickets. This reference demonstrates how an airline is able to fill otherwise empty seats in a manner that stimulates latent and unfulfilled leisure travel demand while leaving their underlying fare structures intact.
Homick (U.S. Pat. No. 5,270,921), assigned to Andersen Consulting, provides for Virtual Fare Methods for a Computerized Airline Seat Inventory Control System. This reference discloses an airline seat reservation system that produces optimal network-wide seat inventory controls while taking into account probabilistic nature of demand. The total fare paid by a passenger using the leg is adjusted by taking into account an estimate of the displacement cost of the travel on the other legs of the itinerary to create a virtual fare.
Garback (U.S. Pat. No. 5,237,499) provides for a Computer Travel Planning System to process travel requests directed to specific venue from individual members of a sponsored group.
Tagawa (U.S. Pat. No. 5,732,398), assigned to Keyosk Corp., provides for a Self-Service System for Selling Travel-Related Services or Products. An interactive travel service system functions like an agent to assist a user.
Lynch et al. (WO 97/32268) provides for an Automated System for Identifying Alternate Low-cost Travel Arrangements. The system obtains inventory information and travel agency information to assist in identifying low-cost options.
The following products identify Internet travel products:                BookIt! PRO        Worldspan        ByeByeNow.com        IntenetView 2.0        Genesys—The Travel Technology Consultancy        Affinity Solutions        NTS Travel Response        IONA Pressroom        S2SystemsNews        
Whatever the precise merits, features and advantages of the above cited references, none of them achieve or fulfills the purposes of the present invention.
One object of the present invention is to provide a system and method whereby packages of travel-related products can be automatically built and sold.
In accordance with one aspect of the invention, there is provided a system and method for defining products, prices, availability, and packaging restrictions by each vendor.
In accordance with another aspect of the invention, there is provided a system and method for automatically matching products according to multiple parameters, and automatically generating a package.
In accordance with another aspect of the invention, there is provided a system and method for receiving and processing of a request to search for packages according to a set of parameters; for receiving and processing of a request to check availability of packages and for receiving and processing of a request to purchase packages.
Thus, the embodiment of the present invention provides vendors of travel-related products with the flexibility necessary to fill potentially thousands of airline seats, hotel rooms or cars that would have otherwise remained empty each day. The embodiment also provides business travelers with an easier way to find in a single place all of the services they need for a business trip. Further aspects of the present invention will become apparent during the course of the following description and by reference to the attached drawings.
These and other objects are achieved by the detailed description that follows.